Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Help me answer the problem attached, I'll make sure to thumbs you up. Thanks! Question 23 Not yet answered Marked out of 18.00 P Flag

image text in transcribed

Help me answer the problem attached, I'll make sure to thumbs you up. Thanks!

Question 23 Not yet answered Marked out of 18.00 P Flag question In April 2021, Smartest Co. commits to selling 1,500 of its iPhone compatible docking stations to Fastest Co. for P600,000. The stations are delivered to Fastest Co. over the next six (6) months. After 900 stations are delivered, the contract is modified and Smartest Co. promises to deliver 450 more products for an additional P171,000. All sales are cash on delivery. The cost of each station is P220. The sale of the first 900 stations generates a sales revenue of Choose... The sale of the first 900 stations reduces inventory at Choose... The account debited at cost for the sale of the first 900 stations is Choose... The revenue of the remaining undelivered stations immediately prior to the contract modification is Choose... The total remaining revenue to be earned after the contract modification is Choose... The revenue per remaining station to be earned after the contract modification is Choose... Choose... The sale of 100 more stations after the contract modification (assuming that the price for the additional reflects the standalone selling price at the time of the contract modification and the additional stations are distinct) generates a sales revenue of The sale of 100 more stations after the contract modification (assuming that the price for the additional reflects the standalone selling price at the time of the contract modification and the additional stations are distinct) reduces inventory at Choose... The sale of 100 more stations after the contract modification (assuming that the pricing for the additional products does not reflect the standalone selling price of the additional products and the prospective method is used) generates a sales revenue of Choose

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Corporate Financial Reporting And Analysis

Authors: David Young, Jacob Cohen

3rd Edition

1118470559, 9781118470558

More Books

Students also viewed these Accounting questions

Question

How can either be made stronger?

Answered: 1 week ago